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Posted On: 01/28/2022 10:42:32 AM
Post# of 36541
NYD do you actually have anything NEW to post here?
You sound like a daamaged, old fashioned vinyl record that is playing the same one turn again and again.
Let me just reply to some of the most negative generalisations from your last post:
1) 2+ years plus of continuous investigation.
a) This is not true. It has first been a deep dive into the 2019 10-K that lasted 10 months. According to Joe's statements this was related to the "soon to happen" IPO of NGIO, where the SEC wanted to have a "closer look" into the company that applied to have one of its subsidiaries listed on NASDAQ. This is somewhat understandable and reasonable, while the time it took (10+ months) surely NOT. GNBT came out of this investigation fair and square, and after that they actually did communicate to us and e.g. held the May CC last year, where everything sounded quite good and rosy.
b) Then sometime after the May CC another (assumed) investigation started. Which means there was time inbetween where they communicated with us, and then some entity (not necessarily the SEC) started another investigation. For me the most likely candidate or reason foer that investigation would be that entire NGUX dilemma, which has very little to do with Joe's "terrible leadership" except for the fact that the crooks, who set this up, were obviously pissed off, because the IPO took significantly longer than expected, and they were stuck with their dividend shares (welcome to the club; ... in fact I still have never seen them in my account in the first place) and were not able to turn them into cash quickly enough. Still, if you are dealing with such "bad actors" there is most of the time very little the current management team is able to do about it.
For me it is very easy to always just blame it on the usual suspect, but here (in case my assumption (SEC investigation regarding the NGUX shananigans) is correct) it might as well be not really Joe's fault.
2) You keep reiterating that Joe and team are voluntarily not communicating with us.
a) In fact this is not true, because Todd seems to be willing and able to quickly reply to emails with standard statements, and with demonstrating that in fact "the lights are still on" within the company, and telling us that they are not going to give up, but dealing with "some serious issues" that they obviously are confronted with. They are also aware that we shareholders are very much on the edge and desparate to receive an update from the company. He already promised that they "will update shareholders as soon as that will be possible". This implies time and time again that it currently is NOT possible, so someone or something is keeping them from doing so. That means it has nothing to do with they not being willing to do so.
b) from exeperience of the years prior to the 10-K investigation we all know that they have been very communicative with us, so I do not see any reason why they would voluntarily change their ways so significantly if they are not forced to do so.
3) Not released Ks and Qs. This might as well be related to the (assumed) ongoing investigation. As long as the investigation is not completed e.g. the share structure of GNBT and NGIO might still remain unclear regarding the NGUX issue, or questions regarding, who would receive or not receive the NGIO dividend. And as long as that remains unclear, the SEC might have asked them to not issue Ks and Qs with potentially false such statements included.
4) BOD members leaving and head quarters abandoned (or they being evicted from them).
I have no good explanation for that neither, but all I hear from you is "doom and gloom", while you do not know any better neither, and there still might be a good reason for it that none of us know. As long as I do not know any better I tend to believe in a positive outcome, and I still think that there are enough good reasons to still believe in such a positive outcome. One being the fact that Joe currently is in Dubai on a business trip smiling into cameras and looking reasonably upbeat, especially when we all consider the terrible situation that we all assume he is in as the CEO of the two companies.
So I can just ask everyone on here again not to plan a funeral for a company and its sub, as long as noone knows what is really going on and whether the companies are already dead or at least close to.
Thanks a lot and have a great weekend everyone.
You sound like a daamaged, old fashioned vinyl record that is playing the same one turn again and again.
Let me just reply to some of the most negative generalisations from your last post:
1) 2+ years plus of continuous investigation.
a) This is not true. It has first been a deep dive into the 2019 10-K that lasted 10 months. According to Joe's statements this was related to the "soon to happen" IPO of NGIO, where the SEC wanted to have a "closer look" into the company that applied to have one of its subsidiaries listed on NASDAQ. This is somewhat understandable and reasonable, while the time it took (10+ months) surely NOT. GNBT came out of this investigation fair and square, and after that they actually did communicate to us and e.g. held the May CC last year, where everything sounded quite good and rosy.
b) Then sometime after the May CC another (assumed) investigation started. Which means there was time inbetween where they communicated with us, and then some entity (not necessarily the SEC) started another investigation. For me the most likely candidate or reason foer that investigation would be that entire NGUX dilemma, which has very little to do with Joe's "terrible leadership" except for the fact that the crooks, who set this up, were obviously pissed off, because the IPO took significantly longer than expected, and they were stuck with their dividend shares (welcome to the club; ... in fact I still have never seen them in my account in the first place) and were not able to turn them into cash quickly enough. Still, if you are dealing with such "bad actors" there is most of the time very little the current management team is able to do about it.
For me it is very easy to always just blame it on the usual suspect, but here (in case my assumption (SEC investigation regarding the NGUX shananigans) is correct) it might as well be not really Joe's fault.
2) You keep reiterating that Joe and team are voluntarily not communicating with us.
a) In fact this is not true, because Todd seems to be willing and able to quickly reply to emails with standard statements, and with demonstrating that in fact "the lights are still on" within the company, and telling us that they are not going to give up, but dealing with "some serious issues" that they obviously are confronted with. They are also aware that we shareholders are very much on the edge and desparate to receive an update from the company. He already promised that they "will update shareholders as soon as that will be possible". This implies time and time again that it currently is NOT possible, so someone or something is keeping them from doing so. That means it has nothing to do with they not being willing to do so.
b) from exeperience of the years prior to the 10-K investigation we all know that they have been very communicative with us, so I do not see any reason why they would voluntarily change their ways so significantly if they are not forced to do so.
3) Not released Ks and Qs. This might as well be related to the (assumed) ongoing investigation. As long as the investigation is not completed e.g. the share structure of GNBT and NGIO might still remain unclear regarding the NGUX issue, or questions regarding, who would receive or not receive the NGIO dividend. And as long as that remains unclear, the SEC might have asked them to not issue Ks and Qs with potentially false such statements included.
4) BOD members leaving and head quarters abandoned (or they being evicted from them).
I have no good explanation for that neither, but all I hear from you is "doom and gloom", while you do not know any better neither, and there still might be a good reason for it that none of us know. As long as I do not know any better I tend to believe in a positive outcome, and I still think that there are enough good reasons to still believe in such a positive outcome. One being the fact that Joe currently is in Dubai on a business trip smiling into cameras and looking reasonably upbeat, especially when we all consider the terrible situation that we all assume he is in as the CEO of the two companies.
So I can just ask everyone on here again not to plan a funeral for a company and its sub, as long as noone knows what is really going on and whether the companies are already dead or at least close to.
Thanks a lot and have a great weekend everyone.
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